FTSE 100 Falls as UK Bank Earnings Season Begins
0857 GMT - The FTSE 100 drops 0.4% to 7569 points with Standard Chartered one of the biggest fallers after the lender kicked off the U.K. bank earnings season with full-year profit that missed expectations. Standard Chartered shares fall 4.0%, leading other banks lower. Reckitt Benckiser shares rise 5.1% to top of the FTSE 100 after the consumer goods major beat 4Q sales forecasts. Ocado gains 1.8% after the online grocer and French retailer Groupe Casino expanded their partnership with plans to develop e-commerce logistics centers for French retailers. Aveva rises 0.9% after the IT group said its solid sales pipeline supports plans for "good revenue growth" in the final quarter, putting it on track to meet full-year expectations. (renae.dyer@wsj.com)
Companies News:
Standard Chartered Operating Profit Rises 4%
Standard Chartered reported operating income of $3.3 billion and swung to a net profit in the fourth quarter, thanks to higher income from its financial-markets business and better cost efficiency.
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Mondi to Sell Personal-Care Components Business for EUR615 Mln
Mondi PLC said Thursday that it will sell its personal-care components business to Nitto Denko Corp. for 615 million euros ($699.5 million) as it focuses on expanding its business in packaging.
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Moneysupermarket.com 2021 Pretax Profit Fell on Poor Energy, Travel Markets
Moneysupermarket.com Group PLC on Thursday reported a fall in pretax profit for 2021, as higher wholesale energy prices and a poor travel market hit revenue.
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BATM Advanced Communications Sees 2021 Revenue, Ebitda Ahead on Growth in Operations
BATM Advanced Communications Ltd. said Thursday that it expects to report 2021 revenue and earnings before interest, taxes, depreciation and amortization slightly ahead of market expectations after strong growth from operations.
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Aveva Revenue Fell in 3Q of FY2022; ARR Rose 9.6% in Jan-Dec 2021
Aveva Group PLC said Thursday that on a constant-currency basis revenue declined on year by a low-single-digit rate in the third quarter of fiscal 2022, and that annualized recurring revenue, or ARR, rose 9.6% in the 12 months to Dec. 31.
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Reckitt Benckiser Swung to 2021 Loss; Sees 2022 Like-For-Like Growth Ahead of Expectations
Reckitt Benckiser Group PLC on Thursday reported a swing to pretax loss for 2021 due to higher operating loss, despite revenue on a like-for-like basis being ahead of expectations.
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Checkit FY 2022 Annual Recurring Revenue Grew on Higher US Booking Sales
Checkit PLC said Thursday that annual recurring revenue for fiscal 2022 rose when compared with the prior year due to strong sales bookings in the second half.
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Safestore 1Q Revenue, Occupancy Rose on Strong U.K. Performance
Safestore Holdings PLC said Thursday that its fiscal 2022 first-quarter revenue and closing occupancy increased thanks to a strong performance in the U.K., complemented by good results from Paris and Spain.
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Shield Therapeutics 2021 Revenue Fell Against Strong Comparative
Shield Therapeutics PLC said Thursday that its total 2021 revenue fell significantly, in line with market expectations, as the comparative period included a major milestone payment.
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Inspiration Healthcare Expects FY 2022 Beat Despite Difficult Trading Environment
Inspiration Healthcare Group PLC said Thursday that it expects beat market expectations for fiscal 2022, despite supply-chain issues and cost increases.
Market Talk:
Safestore's Shares Look Cheap Given Growth Potential
0904 GMT - Safestore's long-term growth potential is underpinned by rising long-term demand for storage space, above average barriers to entry with opportunities for occupancy upside and a visible pipeline of new stores, Liberum says. The self-storage company also has a balance sheet capacity for more earnings enhancing acquisitions or development, the brokerage says. And the shares look cheap, offering a 9% three-year earnings per share compound annual growth rate, on-top of record growth in 2021, Liberum says. "The shares... have de-rated on higher bond yields and we think this presents a buying opportunity," the brokerage says. Liberum retains its buy rating and 1,470 pence price target on Safestore's stock. Shares are up 0.9% at 1,282 pence. (joseph.hoppe@wsj.com)
Safestore's Momentum Gives Confidence in Further Growth
0853 GMT - Safestore's first-quarter update points to extremely strong trading momentum, with revenue increases outperforming the same period a year before, itself a strong quarter, Citi says. The self-storage company's performance provides a strong base for the rest of the year, with U.K. enquiries up and pointing to higher demand, the U.S. bank says. "Management monitor enquiry levels and pricing live, down to a unit level, therefore this level of management of demand and pricing gives us strong confidence that rate growth is matched where demand is strongest limiting the risk of negatively impacting occupancy," Citi says, retaining its buy rating and 1,423 pence price target. Shares are up 0.9% at 1,282 pence. (joseph.hoppe@wsj.com)
Reckitt Benckiser's Guidance Seems Opaque, But Preferable to Peers
0842 GMT - Reckitt Benckiser's 2022 guidance doesn't look too bad given prevailing uncertainty, RBC Capital Markets says. The consumer-goods company expects an organic revenue growth of between 1% and 4%, as well as growth in its EBIT margin, but the extent of this growth remains unclear, the Canadian bank says. However, this should be acceptable given the downgrades in margin expectations from peers Unilever and Henkel, it adds. RBC Capital has a sector perform rating on the stock and a price target of 6,200.0 pence. Reckitt shares are up 4.3% at 6,062.0. (michael.susin@wsj.com)
Contact: London NewsPlus, paul.larkins@wsj.com
(END) Dow Jones Newswires
02-17-22 0426ET
